Starbucks Reports Strong November Revenues

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Starbucks Corporation (Nasdaq: SBUX) today reported consolidated net revenues of $301 million for the four-week period ended November 24, 2002, an increase of 27 percent from consolidated net revenues of $237 million for the same period in fiscal 2002. On a comparable store sales basis (stores open for at least 13 months), sales at company-operated stores increased 10 percent for the four weeks ended November 24, 2002, as compared to the same four-week period in fiscal 2002.

For the eight weeks ended November 24, 2002, consolidated net revenues were $580 million, an increase of 26 percent from consolidated net revenues of $462 million for the same period in fiscal 2002. Comparable store sales increased 10 percent for the eight weeks ended November 24, 2002, as compared to the same eight-week period in fiscal 2002.